HomeMy WebLinkAboutCOM 0739.019 2020-2022 P/Fc
bill l56
CO44.151
fVKona- KohaIa
41".. CHAMBER OF COMMERCE
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October 14, 2022 _ d
Matt Kaneali'i-Kleinfelder, Chair
Heather Kimball, Vice Chair
Committee on Finance, Hawaii County Council T`
West Hawaii Civic Center
74-5044 Ane_Keohokalole, Building A
Kailua-Kona, HI 96740
Dear Chair Kaneali'i-Kleinfelder, Vice Chair Kimball and Members of the Hawaii County Council
Finance Committee,
Located on Hawaii Island, the Kona-Kohala Chamber of Commerce brings the business
community together to address key issues in our community, on our island and in our state.
Established in 1968, our mission is to provide leadership and advocacy for a successful
business environment in West Hawaii.
We support Bill 156 and the proposed rate cap (both ceiling and floor) of 15%for apartment,
hotel and resort, commercial, industrial, agricultural or native forests, and conservation tax
classes. We agree with the purpose of this ordinance to "allow property owners to plan and
adjust accordingly in the event the real estate market spikes."
We are very concerned about increases for commercial property tax liabilities this past year and
how that impacts the cost of doing business. Businesses are struggling with multiple issues now
and into the foreseeable future such as increased employee costs, supply chain disruptions and
labor shortages at all levels.
It's also important to recognize that West Hawaii's visitor industry drives our island's economy
through small business opportunity,jobs, capital investment and taxes. Our members saw
significant increases in real property tax values in 2022-2023. For example, one hotel along the
Kohala Coast saw the value of its buildings increase by 124% between 2020 and 2022 and
seven properties saw their values increase by more than 50%. These increases are not
sustainable.
The Kona-Kohala Chamber of Commerce works to enhance the quality of life for our community
through a strong, sustainable economy on Hawaii Island.
We ask that you please support Bill 156.
Sincerely,
Wendy J. Laros, President and CEO
Kona-Kohala Chamber of Commerce
Kona-Kohala Chamber of Commerce --1b6I161
75-5737 Kuakini Highway, Suite 208 I Kailua-Kona, HI 96740 Comm. No.
www.kona-kohala.com 1808-329-1758 I info@kona-kohala.com Ref.To: pl
Ref..Date. D T 1 8 2022.